India cancelled auctions of government securities to be held on February 11, a government statement said on Monday, following a sharp rise in bond yields after the announcement of the record borrowing plan of ₹14.95 trillion for FY23.
The Centre had planned to auction ₹220 billion worth of bonds on the day.
“On review of the Government of India’s cash position, it has been decided to cancel auction of all the securities scheduled to be held on February 11, 2022,” the Centre said in a statement. The market was expecting a ₹12-13 trillion programme for FY23.
